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Slideshow A day with the LAPD A day with the LAPD where the riots began 20 years ago. Slideshow Nokia in talks to sell luxury Vertu unit: source Tweet Share this Email Print Related News Nokia in advanced talks to sell luxury Vertu unit: FT Sun, Apr 29 2012 Nokia executive quits as phone sales plummet Thu, Apr 19 2012 Mobile operators unconvinced by Nokia's revival bid Tue, Apr 17 2012 Nokia shares tumble after loss forecast Wed, Apr 11 2012 Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Media » A Vertu Signature mobile phone costing over 9,500 euros ($13,500) is displayed at the Nokia flagship store in Helsinki September 29, 2010. Credit: Reuters/Bob Strong LONDON | Mon Apr 30, 2012 6:13am EDT LONDON (Reuters) - Cellphone maker Nokia is in talks to sell its UK luxury subsidiary Vertu, which hand makes some of the world's most expensive mobile phones, a source familiar with the company's strategy said on Monday. Earlier the Financial Times reported that talks with private equity group Permira were at an advanced stage on a possible sale which would raise about 200 million euros ($265 million). Vertu's cellphones can feature crystal displays and sapphire keys, costing more than 200,000 pounds ($320,000) due to the precious metal components. Nokia, which had its credit rating cut to "junk" status by Standard & Poor's last week, first signaled its intention to sell Vertu in December, and recently said it plans to dispose of "non-core assets". Nokia, once the world's dominant mobile phone provider, declined to comment, while Vertu and Permira were not available for comment. The FT report, published on its website on Sunday, cited people familiar with the talks as saying Goldman Sachs was advising on the possible sale, but said the outcome was not yet certain. EQT, the Northern European private equity group, has also been in talks about buying the company, although those close to the process, cited by the FT, say that these are not progressing at this stage. (Reporting by Stephen Mangan in London and Ritsuko Ando in Helsinki; Editing by Diane Craft and David Stamp) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Inflows Outflows Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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